THIRD QUARTER JULY-SEPTEMBER
The Group's net sales amounted to
SEK 364.5 (241.5) million, an increase of 51 percent.The Group's EBITDA was
SEK 81.0 (69.7) million, an increase of 16 percent. Adjusted for items affecting comparability previous year*), the increase was 63 percent.The EBITDA margin was 22 (29) percent. Adjusted for items affecting comparability*), the margin was 22 (21) percent.
Profit after tax amounted to
SEK 38.3 (36.6) million.Earnings per share amounted to
SEK 2.6 (2.5).Cash flow from operating activities was
SEK 61.0 (43.8) million.
NINE MONTHS JANUARY-SEPTEMBER
- The Group's net sales amounted to
SEK 1 130.8 (788.5) million, an increase of 43 percent. -
The Group's EBITDA was
SEK 227.1 (185.3) million, an increase of 23 percent. EBITDA adjusted for items affecting comparability*) amounted to 242.5 million, an increase of 47 percent. - The EBITDA margin was 20 (24) percent. Adjusted for items affecting comparability*), the margin was 21 (21) percent.
-
Profit after tax amounted to
SEK 110.0 (77.4) million. -
Earnings per share amounted to
SEK 7.4 (5.2). -
Cash flow from operating activities was
SEK 153.3 (124.5) million.
Third quarter
Sales increased by a full 51 percent, largely due to acquisitions but also good organic growth of over 20 percent.
With effect from the third quarter,
The new Assistive Tech business area had high demand, particularly in the Norwegian and Swedish markets, and a strong sales increase during the quarter. The businesses that were acquired in the beginning of the year also contributed to the earnings and we see that synergies are being realised.
Specialty Pharma continued to show good growth, with international sales making a strong contribution in the quarter. However, we are seeing increased competition which is expected to affect profitability in the segment in the short term. Work on business development continues, both in the Nordic region and internationally, with high priority.
Overall, the Group delivered a very strong third quarter with high sales growth and increased earnings. EBITDA increased by 63 percent adjusted for items affecting comparability previous year, and the margin was 22 percent.
Three business areas
The new "Assistive Tech" business area encompasses operations in assistive and welfare technology with the aim of linking and utilising expertise about users, product development and the market. The new business area provides a platform and a home for companies in the same sector, with network and synergies that enable both organic and acquisitive growth.
We see this as a natural step in the Group's growth and a confirmation of our long-term model. Since the first investment in GEWA, nowadays Abilia, in 2007, active ownership has created a successful group of companies that now form a new business area. After the end of the quarter, as a step in further building the business area, Swedelift was acquired which broaden the offering in accessibility.
In summary
The Group delivered a very strong third quarter with a combination of organic and acquisitive growth. In general, we see good demand in the market, but we appreciate that the economy and competition can affect certain markets. Acquisitions are a cornerstone of
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